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Russian economic growth picks up to 0.7% year-on-year in June

Published 07/18/2019, 03:04 AM
Updated 07/18/2019, 03:06 AM
Russian economic growth picks up to 0.7% year-on-year in June

Moscow (Reuters) - Gross domestic product growth in Russia accelerated to 0.7% in June in year-on-year terms after expanding by 0.1% in May, the Russian Economy Ministry said on Thursday.

In the second quarter of 2019, GDP grew 0.8% after growing by 0.5% in the first three months of the year.

The ministry said in a monthly report that GDP growth in June was boosted by a pick up in industrial output.

The ministry also said it lowered its initial GDP growth assessment for May to 0.1% from 0.2% reported earlier.

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Whan Russian Statistics Agency (Rosstat) showed econimics shrunk, the head of the agency was fired, the Russian statistics agency was subdued to the Russian Economy Ministry and after that GDP was recalculated and miraculously found some growth rather than decline.. . . . https://www.reuters.com/article/us-russia-statistics/russia-appoints-economy-ministry-official-to-head-statistics-agency-idUSKCN1ON0SW
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